Al-Mana and al-Neama shake hands after signing the agreement. The new Al Dhameen plan is a QR100mn portfolio aimed at facilitating and speeding up approvals to guarantee the funding value provided by the partner bank to SMEs.
Top officials from Qatar Development Bank (QDB) and QNB have signed an agreement for a new Al Dhameen Programme portfolio that aims to push further expansion of small and medium-sized enterprises (SMEs) financing in Qatar.
The agreement, sponsored by QDB, was signed yesterday by QDB executive director Khalid Abdulla al-Mana and QNB general manager for group corporate and institution banking Yousef Mahmoud al-Neama.
The new Al Dhameen plan is a QR100mn portfolio aimed at facilitating and speeding up approvals to guarantee the value of the funding provided by the partner bank to SMEs lacking sufficient guarantees.
QDB has prepared a special portfolio guide that describes the terms, conditions, highest international standards, due diligence, credit monitoring, and applications and guidelines development to help QNB to take the necessary decisions without referring to the QDB.
Developing the programme content took nearly two years of close co-operation between QDB and partner banks to cater to all needs and increase transparency.
Al-Mana said, “Al Dhameen is a primary programme to ensure Qatari SMEs can overcome having a short credit history and other obstacles. It also serves a strategic purpose, to boost lending to sectors of great importance to the national economy, including industrial manufacturing, education, health, and value-added professional services.
“We are mainly targeting start-ups and therefore delighted to sign this agreement with QNB, a strong partner committed to developing SMEs and the wider private sector, alongside Al Dhameen’s powerful network of banks across Qatar.”
Al-Neama said, “We are proud to be the first bank in Qatar to join the Al Dhameen programme back in 2013. Today, we are proud to be the first conventional bank to sign onto Al Dhameen’s new portfolio agreement as we continue our work funding new and existing companies that want to grow their business.
“The rapid growth of our country and economy creates more opportunities for start-ups and enables them to meet the growing needs of the market. In addition, we are pleased by the presence of strategic new sectors, which QDB supports, and we look forward to meeting the financing needs of SMEs in those sectors.”
In enhancing and improving the Al-Dhameen Programme, QDB relied on the survey of partner banks and all parties concerned to expand the base of beneficiaries and allow partner banks to determine the SMEs to be financed.
Since it was launched in 2010, the Al-Dhameen Programme has achieved the highest rates and contributed to the enhancement and diversification of Qatar’s economy since the bank agreed to provide guarantees estimated at more than QR573mn for 212 SMEs, QR363mn of these guarantees were cashed.
QNB was the second bank to sign the agreement this month after Qatar International Islamic Bank (QIIB). SMEs can visit the nearest QNB branch for more information on the application procedures for the QDB programme.
QNB is platinum sponsor of national conference on internal auditing
QNB has announced its “platinum sponsorship” of the “5th National Conference on Internal Auditing 2015,” which runs from today until June 2 at the Grand Hyatt Hotel in Doha.
The event is being held under the patronage of Abdullah bin Hamad al-Attiyah, chairman of the Abdullah bin Hamad al-Attiyah Foundation for Energy and Sustainable Development, under the theme “Auditing Matters.”
The conference is expected to gather world-renowned speakers, who will showcase a series of seminars and workshops on major audit-related methodologies, standards, and principles.
The conference provides an opportunity for networking with leaders of the profession.
The topics for discussion include the requirements to assist in the realisation of the Qatar National Vision 2030, which aligns with QNB Group’s vision of building a knowledge-based society.
QNB said it is committed to sponsoring events that showcase best international practices and contribute to the development of the economy.
QNB Group operates in 27 countries and across three continents, and has 14,500 employees in 615 office locations.
